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 FIVE INTEGRALLY PLANNED TOURIST CENTERS
Cancun, Ixtapa, Los Cabos, Loreto and the Bays of Huatulco, represent an important contribution to the tourist and socioeconomic development of Mexico, by increasing the tourist supply with first-class destinations that attract all the segments of the domestic and foreign markets.
The five integrally planned tourist resorts have favored the sustained growth of other sectors such as communications, industry and services, converting towns into very attractives cities generating important economic development in four States of the Mexican Republic: Quintana Roo, Oaxaca, Guerrero and Baja California Sur.
These constitute important markets which demand a considerable amount of products and services, favoring domestic and foreign investment and generating a substancial wage and income source.
From 1974 to 1998 in these resorts, 246 hotels were built with 33,649 rooms, providing lodgings for more than 3.8 million visitors, in sites once virtually untouched by man.
SALES STRATEGIES
The promotional work of FONATUR is aimed at domestic and foreign investors. The Sales strategies have been designed according to the prevailing economic conditions of the country, and have been put in operation with great succes. The products promoted by FONATUR are: sale of pieces of land, Assets, tourist business prospects and Mega projects. FONATUR posseses a land reserve located in the five tourist development centers (Cancun, Ixtapa, Los Cabos, Loreto and the Bays of Huatulco), with different uses of land for hotels, housing, commercial and industry areas; all of which may be sold by means of an agile and straight forward process, according to FONATUR’s sales policies.
FONATUR selects the most strategic lots that may trigger the development of the tourist centers, according to their characteristics (use of land, location, availability and area).
In December 1993, in accordance with the approval of the Free Trade Agreement, investment regulations were further lifted and included in the Law on Foreign Investment. This new law allows foreign investors to play a more active role in the Mexican economy, specifically regarding industry and the previously out-of-bounds coastal and border regions of Mexico. Now foreign investors may acquire, without the need of approval by the Mexican Government, up to 100% of the stocks of a Mexican company.
FIVE MASTER PLANS
After a thorough research, market analysis, among several studies, FONATUR identify the areas ideally located to be transformed into major tourist destinations. The master plans which FONATUR designed for these centers grant all the required facilities for their development, guarding their natural beauty, their attractions and a steady socioeconomic development of each region. In each of these five integrally Planned Tourist Centers, and by means of the master plans, an even growth has been obtained within the tourist and urban areas, in observance of the environment, the population and the laws in force. In order to maintain these efforts, the five master plans are permanently updated.
DEVELOPMENT
The National Trust Fund for Tourism Development, FONATUR, has put into practice an essential formula for the creation of the five integrally planned tourist centers, based on the complete establishment of a city with all the infrastructure and services required to serve both the inhabitants as well as the visitors.
The conceptualization of the five integrally planned tourist resorts has meant that FONATUR has carried out sufficient top quality public works so that the city is self-sufficient. Due to their characteristics, the works built by FONATUR in the five planned tourist resorts are classified into basic infrastructure works, urban development and urban and tourist services. FONATUR permanently carries out basic infrastructure that consist of the construction of aqueducts, governing tanks, drinking water plants, pressurized outlets for sewage water, sewage water treatment plants, rainwater protection channels, electricity supply lines, electrical substations, telephone exchanges, international airports, drinking water capture, etc.
The urban development works include the construction of roadways, sidewalks and curbs, drinking water, electricity, telephone and sewer networks, underground electricity networks, including the remodelling of blocks, gardens and parks and the construction related to the tourist service works fulfill the requirements of the sector through the development of hotels, restaurants, golf courses, docks, marinas and all kinds of facilities and amenities for the visitors.
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JOINT INVESTMENT PROGRAM
 Objective:
To contribute to consolidating FONATUR’s integrally planned centers and the tourist destinations in which the Fund has a share, through the promotion of profitable projects that generate employment, attract foreign exchange and foster regional development.
Eligibility:
Companies proposing projects that generate synergic actions of interest to FONATUR will be considered eligible.
Terms of association:
FONATUR will only be able to contribute resources in kind (land reserves) and/or specialized studies and projects.
Its maximum share will be 25% of total investment, made up as follows:
Land 15%
Studies and projects 5%
Specialized technical assistance 5%
Percentages will be reciprocal in cases where the investor makes capital contributions under one of these headings, and the assets contributed initially will be valued by a Development Bank or La Cabin.
The percentage of FONATUR’s partnership interest, including shareholding by another parastate agency, should not exceed 49% of the company’s capital stock.
It will be possible to participate in joint investment by means of the establishment of any juristic person (trust fund, commercial corporation, etc.) that guarantees the partners’ contributions.
Repurchase Terms for FONATUR’s shares:
The repurchase price of FONATUR’s shares will be at least equivalent to the greatest of the following options:
The book value of the shares at the moment of repurchase.
The appraised value of the land at the moment of repurchase, plus a percentage to cover the contribution for studies, projects and advisory services.
The market value of the land at the moment of repurchase, plus a percentage to cover the contribution for studies, projects and advisory services.
In order to guarantee repurchase of the shares, beneficiary’s rights, etc., the titles that protect current and future capital contributions shall be deposited in a majority portion and in the power of a guarantee trust fund in which FONATUR shall be the first beneficiary.
Authorization Criteria: Companies interested in participating in tourist development projects in joint investment with FONATUR , as well as shareholders and, if applicable, affiliated, holding or subsidiary companies, must have the following:
A) Integrity and creditworthiness
Letters of recommendation
Bank references
Financial and fiscal reports for the last three accounting periods.
B) Experience as developers
Technical resume of the company
Infrastructure of the company
Administration
Description of projects developed
Incorporation papers
If applicable, land title for the properties
Business plans resulting from the evaluation of the project and the risk, as well as negotiations with investors, must be authorized by FONATUR’s General Directorate.
TECHNICAL ASSISTANCE
FONATUR is an institution with wide and recognized experience, know-how, technology and credibility in the development of tourism poles, at both national and international levels.
To capitalize on that experience it provides advisory services to any individual or company, public or private, requiring support to enter tourism activities , in the following forms:
Specific advisory services:
On aspects of the project, for example, architectural, cost, dimensions and efficiency solutions;
On operative and financial aspects, seeking the best financial structure to obtain an attractive level of return on the investment and assure its source of repayment;
On aspects of the tourism market, by validating or determining the segment on which the tourism product is targeted and designing different marketing strategies.
Comprehensive advisory services:
In accordance with the magnitude of the project and its benefits, it seeks the best alternative for structuring businesses, ensuring a healthy mix of capital and financing options.
In support of tourism enterprises, it designs marketing and promotion strategies, taking care of key aspects of the operatio
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© World INvestment NEws, 2000.
This is the electronic edition of the special country report on Mexico published in Forbes Global.
July 3rd 2000 Issue.
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MEXICO
